Migdal Insurance & Financial Holdings Ltd. Sells 1,407 Shares of ServiceNow, Inc. (NYSE:NOW)

Migdal Insurance & Financial Holdings Ltd. cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 47.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,582 shares of the information technology services provider’s stock after selling 1,407 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in ServiceNow were worth $1,115,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in ServiceNow during the fourth quarter valued at approximately $872,202,000. Moneta Group Investment Advisors LLC raised its holdings in ServiceNow by 69,897.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 856,069 shares of the information technology services provider’s stock valued at $332,386,000 after buying an additional 854,846 shares during the period. International Assets Investment Management LLC raised its holdings in ServiceNow by 69,354.6% during the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after buying an additional 820,465 shares during the period. FMR LLC lifted its position in ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after buying an additional 595,697 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in ServiceNow by 129.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 994,367 shares of the information technology services provider’s stock worth $386,082,000 after buying an additional 560,908 shares during the period. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NOW. Wells Fargo & Company raised their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a report on Tuesday. Mizuho boosted their target price on ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Citigroup upped their target price on ServiceNow from $862.00 to $896.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Robert W. Baird raised their price target on ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, JMP Securities upped their price objective on ServiceNow from $665.00 to $825.00 and gave the company a “market outperform” rating in a research report on Monday, January 22nd. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $780.00.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the transaction, the insider now directly owns 5,453 shares in the company, valued at approximately $4,064,229.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock valued at $9,940,303 over the last 90 days. Insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 1.2 %

Shares of NYSE NOW opened at $735.68 on Thursday. The business has a fifty day moving average price of $767.53 and a 200 day moving average price of $700.42. ServiceNow, Inc. has a 1-year low of $427.68 and a 1-year high of $815.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $151.09 billion, a P/E ratio of 87.48, a price-to-earnings-growth ratio of 4.71 and a beta of 0.97.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the firm posted $0.88 earnings per share. The company’s quarterly revenue was up 25.6% on a year-over-year basis. Equities research analysts expect that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.